ACtion Magazine - September/October 2016 - 18

Angie Kilbourne The Internet of Things (IoT): Opportunity or threat? Either way, it's poised to change the nature of how you do business T he Internet of Things (IoT) has had quite a bit of hype lately, but many people don't know what it really means. IoT represents a brave new enabling world in which everything electronic can, and will, be connected: Transportation networks, automakers, suppliers, parts distributors, your customers and your own vehicles, smartphones (and other devices), your shop, technicians, tools, equipment - and gasp - service and repair. The question: Have you even begun to prepare? If not, think of this as a gentle nudge - a wake-up call, if you will. Access is different IoT: Innovative, disruptive and quick Life moves pretty fast. Just a decade ago, the IoT was a new buzzword. It was talked about by a few, acted upon by fewer and a challenge to save acting on for the future - maybe 2015 or 2020. Driven by telematics, vehicle connectivity, open standards, consumer demands, regulators and other market forces, the vision of the IoT beyond 2020 is becoming clearer by the day. The IoT is continually tunneling into our industry and our personal awareness. Consider these five statistics, which demonstrate the proliferation of the IoT: ● The Internet of Things Institute's 2016 annual survey reported that 65 percent of respondents agree businesses that leverage the IoT will have a significant advantage over competitors, while 15 percent agree a moderate advantage will be gained. The remaining 19 said they have never heard of the IoT. Challenge: Which camp are you in? ● IDC Research Inc. predicts the worldwide IoT market will grow to $1.7 trillion by 2020, - approximately one-quarter of which will be automotive in nature - marking a compound annual growth rate of 16.9 percent. Challenge: Are you positioning your shop to transform opportunity into revenue? ● Frost and Sullivan says that by 2020, each person is likely to have an average of 5.1 different connected devices. Challenge: Is your shop connected to your customers' primary or lesser-used devices? ● Gartner Research estimates that by 2020, a quarter billion connected vehicles will enable new realtime in-vehicle services, monitoring and support. (Examples include remote diagnostics, prognostics and smart customer relationship management). Challenge: Will your shop be a proactive provider? 18 ACTION * September/October 2016 Expect the service/repair paradigm to change When people think about the IoT, many forget one of the most important things in their lives: their vehicles. But the automobile isn't just a central hub for transportation anymore; vehicles are increasingly a central communications center. Experts say the connected car and connected shop make an ideal IoT ecosystem that will revolutionize the way service maintenance and repairs are provided. Mobile air conditioning and HVAC service/repair shops and technicians will be able to leverage vehicle breakdown and predictive maintenance alerts, remote problem diagnostics, vehicle usage and handling analysis to schedule servicing and a broader range of service information and procedures. The IoT will empower a shift toward predictive maintenance, based on enhanced sensor mechanisms that will produce data and information telematics alerts. This will allow real-time analyses to help identify, prioritize and remedy vehicle problems before more serious mishaps occur. A vehicle owner also will be better informed and able to more conveniently schedule needed service with the facility of choice - hopefully yours. The IoT has already become an integral part of our technology ecosystem. It has changed the way we live, play and work. We are about to have the same experience with automobiles. It is now poised to accelerate and transform the way vehicles are serviced and repaired. It's time to take the IoT seriously and begin preparing to leverage the opportunity it offers. Become aware. Get informed. Stop and look around. Just don't miss it. ❆ STAT: Mobile users spend 30 minutes on average every day using Facebook, which is 21.5 minutes longer than mobile's second most used social network - Snapchat. (Source: Statista.com, based on 2015 Q4 data from Morgan Stanley and ComScore) http://www.Statista.com

Table of Contents for the Digital Edition of ACtion Magazine - September/October 2016

ACtion Magazine - September/October 2016
Contents
Outlook — Andrew Fiffick
Service Port — Steve Schaeber
Leonard’s Law — Keith Leonard, Esq.
Cooling Corner
Virtual View — Angie Kilbourne
What you should know about A/C hose compatibility with R-1234yf
By The Numbers
Member Profile
CO2 air conditioning development comes alive in Germany
Industry News
Association News
New Products and Services
Last Watch — Elvis Hoffpauir

ACtion Magazine - September/October 2016